The intelligencer. [volume] (Lexington, Mo.) 1887-1891, 1887-06-04
THE PAYMENT OF THE BOND JUDO
MENTS.
wELLINGroN. Mo-, June 1, 1887.

WELLINGToN, Mo, June 1, 1887.
EDITOR INTELLIGENCER:- Permit me to
ask through your columns if the bonds our
county court drew warrants for were not a
part of the same bonds that Judges Prather,
Harrison and Lockbart were sent to prison
for refusing to make a levy while they were
Oh The county court bench?
AN OLD TIMER.
The above is written by a friend OF
the old court, evidently with a feeling
that the action of the present court is
either a reflection upon them or an
abandonment OF the interests of the
people.
As a matter ot-fact it is neither.
Whatever quarrels may have arisen
as to details, and these need not be adj
verified to here, the wisdom OF this
courts retiring the outstanding bonds
at the best obtainable rate with the
surplus money in the treasury we have
heard disputed by no one.
We suppose some Of the Judgments
are the same for which the former
county court suffered imprisonment,
but that is immaterial, they are upon
county bonds, a debt upon the county,
and the hope of obtaining them at the
old compromise had passed away. AS
this has been the case for some time the
position here taken may be held to be
a reflection upon the wisdom of the
court immediately preceding this one,
as two years interest upon $4,000 OF
$50, 700 was allowed to accrue when it
might AVE been saved by paying that
many bonds. But all these things must
be calmly and relatively considered.
We have no sort of doubt that the
present county judges would as quick
ly 60 to jail in defense of the connty's
interests as did the former judges did
the same conditions prevail. No man
in Lafayette county vas more conspicu-
Gus and more earnest in the bond fight,
when it was on, than was Mr.. Joseph
F. Smith. Judge Harrison, who was
one OF the imprisoned judges, who,
we believe, remained longer in Jail
than either of his associates, and who
is now the collector of the county and
familiar with its finances, approves the
course of the present court in paving
out the surplus money in the treasury
for judgments, in order, primarily, to
stop the ruinous amount OF interest
which is accruing against the county.
Whilst this court can do this without
jeopardizing any of the interests of the
county, the former courts could not, as
the larger outstanding amounts of
county bonds, and the entire uncom
promised township Indebtedness, a re-
duction upon which was sought, over
Swallowed In Importance the amount of
interest lost upon the surplus money
living idle in the county treasury.
Once these considerations were out OF
the way what defense could the county
court make to the people if they kept
money idle in the treasury while debts
were running at high rates of interest?
What would be thought OF a private
individual who would thus conduct his
affairs?
1t must be remembered that the COM
promise was secured by going outside
OF the law, by pleading inability to
pay. The courts held the bonds to be
valid. The plea of the people was that
they could not pay. But this plea
can certainly not be urged if
thousands of dollars surplus money in
the treasury is permitted to remain
there idle.
1t may be urged that this surplus
should have been used to pay compro-
missed bonds, as these belonged to
persons who had not, Shylock-like.
asked tor the last pound Of flesh. This
is a sentimental objection with which
the court could have nothing to do.
The compromised bonds are at a
premium, they are worth 1OS, they can.
not be compounded, they bear but six
per cent. interest. The judgments,
many of them, bear ten per cent. inter-
est, and the court was informed hat
they would be sued upon, which can be
done in the same way as upon the
original bond, thus doubling them uI
and compromising the interest. II
needed, therefore, but a very simple
sum in arithmetic to show that it was
wiser 10 retire the judgments than the
compromised bonds, and whatever the
amount of a judgment, with interest
may be to-day, the quickest and th,
best way to dispose of it, if the county
has the money, is to pay it, as 1t viii
continue to grow, night and day, ant
the county's defense against it, IN
availing before The courts until now
cannot be bettered by charging tn
amount of surplus money in the treas.
ury.
We see no cause for any quarrel be
tween the officials of the county sine,
1875, past or present. We believ
they have all done their duty conscien
! tiously. Judges Prather, Harrison
Lockhart and Barnett did noble ser
t vice for the county, useful service
service which saved to 1t many thous
ands of dollars. They deserve we'll c
the people, and we feel satisfied hav
, heir grateful thanks. We have give
then due sredlt in the past, and sha
GksSsfpntinae 70 do 30. The presea
: they eau to conserve the very best i
%terests of the people OF the county.
The British yacht Thistle, built
compete Tor the America cup h;